WG Tech(SH:603773)2021-10-27 16:00Financial Performance - The company's operating revenue for Q3 2021 was ¥276,292,388.24, representing a year-on-year increase of 66.11%[5] - The net profit attributable to shareholders was -¥9,160,759.58, a decrease of 255.82% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥11,095,021.08, down 473.25% year-on-year[5] - The basic and diluted earnings per share were both -¥0.0749, reflecting a decrease of 220.42% compared to the previous year[6] - Total revenue for the first three quarters of 2021 reached ¥678,141,939.41, a significant increase of 55.6% compared to ¥435,789,494.25 in the same period of 2020[28] - The net profit for the third quarter of 2021 was a loss of ¥4,255,421.94, contrasting sharply with a net profit of ¥14,896,270.20 in the same quarter of 2020[29] - The total comprehensive income attributable to the parent company was -6,704,720.03 CNY, compared to 14,896,270.20 CNY in the previous period[30] - The basic and diluted earnings per share were both -0.0548 CNY, down from 0.1575 CNY in the same period last year[30] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,615,509,287.02, an increase of 29.96% from the end of the previous year[6] - The company's total assets as of September 30, 2021, amounted to ¥2,615,509,287.02, an increase from ¥2,012,544,176.06 at the end of 2020[27] - The total liabilities increased to ¥969,512,541.49 in Q3 2021, compared to ¥397,350,287.90 in Q3 2020, marking a growth of 143.5%[26] - Cash and cash equivalents decreased to ¥216,684,418.70 from ¥475,343,240.19, indicating a decline of 54.4%[24] - Accounts receivable rose significantly to ¥529,310,748.82 from ¥248,723,089.58, representing an increase of 112.5%[24] - Inventory levels increased to ¥171,730,858.06, up from ¥21,832,383.17, a substantial rise of 684.5%[25] - The company's equity attributable to shareholders decreased to ¥1,550,823,182.75 from ¥1,615,193,888.16, a decline of 4.0%[27] - Total liabilities amounted to 397,350,287.90, with current liabilities at 386,928,598.28[36] Cash Flow - The company reported a cash flow from operating activities of -¥22,640,361.94 for the year-to-date, indicating a decrease of 135.74%[6] - Cash inflows from operating activities amounted to 1,082,832,803.51 CNY, an increase from 713,280,228.99 CNY year-over-year[32] - The net cash flow from operating activities was -22,640,361.94 CNY, a decline from 63,340,645.53 CNY in the previous year[32] - Cash inflows from financing activities totaled 429,401,352.20 CNY, compared to 228,450,000.00 CNY in the same period last year[33] - The net cash flow from financing activities was 72,963,619.65 CNY, down from 135,914,038.47 CNY year-over-year[33] - The company reported a net cash outflow of 166,735,563.05 CNY in the current period, compared to -170,448,893.17 CNY in the same period last year[33] - The company recorded a net cash outflow from investing activities of -217,029,756.41 CNY, an improvement from -369,616,164.30 CNY in the previous year[33] Research and Development - The company is currently undergoing a product transformation phase, which has led to increased R&D expenses and a decrease in overall gross margin[10] - The company reported R&D expenses of ¥36,703,100.43 for the first three quarters of 2021, compared to ¥22,502,680.48 in 2020, reflecting an increase of 63.0%[28] - The company aims to achieve mass production of Mini LED glass-based backlight products with over 2000 partitions, leveraging PVD thick copper technology[19] - The company has completed the debugging of a 75-inch Mini LED glass-based backlight product with 2046 partitions and is entering the mass production phase[20] - The company is focusing on solving key core technologies in the optoelectronic display field to address import bottlenecks[16] Corporate Developments - The company has established a new subsidiary in Dongguan and relocated its central research institute to enhance R&D capabilities[16] - The company has established a full subsidiary in Dongguan for the production of Mini LED products, with the first batch of samples completed[20] - The company has engaged a leading consulting management firm to optimize its organizational structure and business processes[18] - The company has made progress in litigation matters, successfully lifting the freeze on assets valued at 99 million yuan[22] - The company plans to launch glass substrate direct display products in 2022, collaborating with several industry leaders[19] Shareholder Information - The total number of common shareholders at the end of the reporting period is 13,905[13] - The largest shareholder, Yi Weihua, holds 33,584,526 shares, accounting for 27.45% of the total shares, with 24,609,000 shares pledged[13]